Does Beijing really have the power to lift up the Australian dollar?

Australian dollar traders are closely monitoring China's actions, unlike global markets focused on the US and Japan's efforts to support the yen. Some analysts believe Beijing's policy moves, particularly those aimed at boosting domestic growth, could positively impact the Australian dollar. However, Goldman Sachs suggests the Australian currency's sensitivity to China is more selective than widely perceived. This connection primarily hinges on China's demand for commodities. Therefore, while China's economic policies are a point of focus for Australian dollar traders, the direct link is largely determined by commodity consumption.